The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-09-19
REGARDING TIE i. &. O. DEAL.
Opinions Expressed in Hambleton's Circu.

Opinions Expressed in Hambleton's Circu.
lar-Tho Next President.
Regarding the Baltimore & Ohio Rail.
road affairs, tho circular OF John A. Ham.
bleton & Co. this week says: Tho i'm.
provement in prices which followed the
announcement OF tho. arrangement Of
Baltimore & Ohio sffaira, and the congo.
quent harmonizins OF trunk line interests,
hes not been maintained this week, Tho
traffic Of most OF the railroad companies,
and especially Of the trunk line roads, is
immense, ind is only limited by the ca.
pscity OF the companies to haul the
freight Offering. So crest is the demand
for freight cars which the roads are un-
able 10 supply, that fsoetious writer calls
II q famine Of freight cars. Notwi.hstsnd.
Ing railroad earnings were very large this
tims last year, they continue to show each
month steady and marked increase. The
statement OF Mr.. Ives regarding tho IA
nous .. 4 0. 'deal,' as viewed from his
standpoint, wss read with much interest
here in Bsliimore-not, indeed, that Mr..
Ives throws any additional light upon the
subject, or imparts any information not
previously given, but his explanation
OF the scheme Is most interesting.
No matter what may be said or thought Of
Mr.. Ives, 1t cannot be gaineaid that only
a master mind could have conceived such
stupendous operation, and have come
so near carrying it through. Tho fact
mus! DO recognized that the failure to per
feet and carry through tho Baltimore &
Ohio deal was due to the inability OF the
Ives party to raise the necessary funds to
make pay men. for the baltimore l. Ohio
utock, and we know that Mr.. Garrett
granted indulgence to the Ives party to fs:
cil!.ste their efforts to raise the NECESSARY
money, until foIbearance ceased to BE-
virtue, and not until he recognized the ut.
ter inability Of Of the contrasting party to
make the deal did he break OF all
negotiations. Regarding the money and
security paid by tho Ives party 10 Mr..
Garrett, it 10 a legal question Of owner.
ship for the courts 10 idetefillne; but II
Mr.. Ives can eustsin his claim Of owner.
ship, he will have no difficulty in recover.
ing the came, and his accusation that Mr..
Garrett vent Of to Europe with bis money
and stock In his pocket Is yiatelneut un-
justified and without warrant. The eus.
pension Of 1yce & Co. was not due to any
breach Of ebnt7ecs on the part Of Mr.. Gar.
rett, but was brought about by tho insbil.
ity Of tho Ives party to carry out the pro-
dlgioug scheme which they had underta.
ken. Tia cau5ea WHICH pyeyentod the
Ives party from obtaining the necessary
funds to mako tho payments to Mr.. Gar
rstt were the united opposition OF the
managers Of tho trunk lines to Mr.. Ives
echeme aud tho striugeuGy IN tha money
market. Mr.. Ives assumed Responsible.
ties to carry out scheme Of unsurpassed
magnitude. Flo staked hip loot dalar IN
the game and lost. II he had won, he
would have been considered brilliant
fnsncier; but as he Loot, be receives only
condemnation. Verify, nothing succeeds
as we'll as success. SIS ~ 8, 4 81
ut appears to be accepted as a fact that
Mr.. Garrett will resign the presidency OF
the Baltimore 4 Ohio Company. Indeed,
We hayo ressone to know that Mr.. Garrett
would bs most willing to be relieved iron
the great responsibility which has been
such burden to him. MI. King, Of the
Eric Railroad, and Mr.. Spencer, first vice
president Of the Baltimore & Ohio. are
apoken Of as Mr.. Garrett'e successor.
Both gentlemen are competent to perform
tho duties Of the Office, with tho assist
ance Of board OF directors, who would
devote their time and abilities to the man.
segment Of the company. 4
| l"Itis q well.known fact that the meet
ings Of the directors Of the Baltimore and
Ohio Company in the past have had very
little to do in shaping the policy and
management Of the company, aud that
the duties Of the board have consisted
principally, in confirming the action Of
the president. The Baltimore and Ohio
Company Of the present is a very differ
snt institution tron, what It was during
tho lifetime of John W. Garrett, and nc
one man, no matter what may be hi
abilities, can manage the company IN.
asaleted by a thoroughly competent board
OF directors. "A. & 51} &
%s"While the community and the share
Ih0lder8 Of the BAltimnre q ()hio Comnon,